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MARKET UPDATE: This morning (and yesterday) I said that a major bear market rally was coming and I guess a near 900 point move higher in the Dow qualifies. Look, I've been in this game since 1985 and if I've learned one thing in those 23 years its this: you only get these kinds of massive one day moves during a bear market rally. I would be VERY surprised if we look back on this move and said "wow, so that 900 point move up was the sign that the market had bottomed, and that I should have gotten back into stocks". It just doesnt work like this (remember the 900 point move higher of a couple of weeks ago?)...I believe that we will (soon) be going back down and testing the lows.

It's still likely that w...